Mark Zuckerberg Names 4 Focus Areas Of Chan Zuckerberg Initiative In Response

Zuckerberg and Chan announced the establishment of the charity foundation in a Tuesday open letter to their newborn daughter. These are personalized learning, curing ailments, connecting people and building strong communities.

If the public nature of such commitments seems more widespread, it’s because many billionaires themselves, especially in the United States, are more public figures than they were in previous decades.

By timing the latest announcement with the birth of his baby, it seems that Zuckerberg is trying to send a message that he’s not hoarding his personal fortune for the next 100 generations of Zucks. “It’s incredibly impressive and an enormous commitment that really eclipses anything that we’ve seen in terms of size”, said Phil Buchanan, president of the nonprofit Center for Effective Philanthropy. The likes of Bill Gates, Warren Buffett and Mark Zuckerberg may well be making tomorrow’s America. The initiative will be more of a limited liability company rather than a non-profit or a foundation.

They are going to create a new organization, the Chan Zuckerberg Initiative and it will pursue these goals through a number of charitable donations, the promotion of policy reform and private investment.

On the note posted regarding the issue, it was stated that Zuckerberg will gift or otherwise direct substantially all of his Facebook stock shares or the net after tax proceeds from the sales of those shares. “Technological progress in every field means your life should be dramatically better than ours today”.

The Facebook co-founder is one of the world’s wealthiest men. As a matter of fact the current value of their shares is $45 billion, according to Forbes.

Congratulations to the new parents, Mark Zuckerberg and Priscilla Chan for the arrival of baby Max. The stock sales, if any, over the next three years are not expected to affect Facebook’s share price because they are well-telegraphed and just a small fraction of both the company’s US$300 billion market cap and daily trading volume.

For now, the move allows Mr Zuckerberg to relinquish wealth, but not control, as he will retain the votes associated with any shares transferred to CZI.

In the post on Facebook they also revealed that Dr Chan had given birth to their daughter, Maxima.